HSBC Reaffirms “Buy” Rating for Rio Tinto plc (RIO)

HSBC reissued their buy rating on shares of Rio Tinto plc (LON:RIO) in a report published on Friday. HSBC currently has a GBX 3,300 ($40.94) price target on the stock.

Other analysts have also recently issued reports about the company. Liberum Capital reissued a sell rating and issued a GBX 1,590 ($19.72) price target on shares of Rio Tinto plc in a report on Wednesday, August 3rd. Barclays PLC raised their price target on Rio Tinto plc from GBX 2,600 ($32.25) to GBX 2,800 ($34.74) and gave the company an overweight rating in a report on Wednesday, September 21st. JPMorgan Chase & Co. set a GBX 3,200 ($39.70) price target on Rio Tinto plc and gave the company a buy rating in a report on Tuesday, November 1st. Canaccord Genuity reissued a buy rating and issued a GBX 2,800 ($34.74) price target on shares of Rio Tinto plc in a report on Wednesday, August 3rd. Finally, Jefferies Group reissued a buy rating and issued a GBX 2,600 ($32.25) price target on shares of Rio Tinto plc in a report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Rio Tinto plc presently has an average rating of Buy and a consensus target price of GBX 2,881.56 ($35.75).

Rio Tinto plc (LON:RIO) opened at 2978.00 on Friday. The company’s 50-day moving average price is GBX 2,857.61 and its 200 day moving average price is GBX 2,428.37. The stock’s market capitalization is GBX 53.57 billion. Rio Tinto plc has a 12 month low of GBX 1,557.00 and a 12 month high of GBX 3,217.00.

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In other Rio Tinto plc news, insider Jean-Sébastien Jacques bought 14 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were acquired at an average cost of GBX 2,612 ($32.40) per share, with a total value of £365.68 ($453.64).

About Rio Tinto plc

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.